Tuesday, 13 December 2011

Huge holiday complex planned for Magaluf


Plans have been unveiled for a 'super-modern hotel' complex in Magaluf, Majorca. The complex is to be named the Sol Cavia Resort and will be implemented on land occupied by existing hotels after planning was granted for the complex. The work is to begin in winter 2012.

Jaime Martinez, the advisor of the Ministry of Sports and Tourism of Spain thinks that the project could be 'ideal' for the environment and investors as it will use existing hotel space.

The new resort will incorporate several functions including hotels, tourist attractions and shopping areas and hope that it will be the catalyst for an improvement to Magaluf which has been in decline in recent years. The projected costs for the resort is €130-140m and will be undertaken by Melia Hotel's the largest operator in Spain. Itwill be designed for 5000 people in total at the peak season.

The move is clearly good for Magaluf in the short term and the jobs that it will provide. I just hope that these large chains don't borrow too much to finance these projects and to exacerbate a culture of projects with the assistance of vast loans.

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